Shree Cement gains on completing greenfield cement plant in Bengal
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Shree Cement is currently trading at Rs. 24039.00, up by 146.75 points or 0.61% from its previous closing of Rs. 23892.25 on the BSE.
The scrip opened at Rs. 24199.90 and has touched a high and low of Rs. 24199.90 and Rs. 23945.50 respectively. So far 1093 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 27013.00 on 21-Feb-2023 and a 52 week low of Rs. 18890.40 on 01-Jul-2022.
Last one week high and low of the scrip stood at Rs. 24292.45 and Rs. 22601.30 respectively. The current market cap of the company is Rs. 86936.02 crore.
The promoters holding in the company stood at 62.55%, while Institutions and Non-Institutions held 24.56% and 12.89% respectively.
Shree Cement has completed the Rs 550 crore greenfield cement plant in the Purulia district, Bengal. This is its first production facility in Bengal and has begun trial production. With this plant, the total cement production capacity of the group has increased to around 50 MT per annum across 15 plants.
The 3-million-tonne per annum plant set up at an investment of around Rs 550 crore was entirely funded through internal accruals. This new plant will serve the growing cement demand in fast-growing Bengal and Jharkhand markets, helping faster supplies to its customers.
Shree Cement is a rapidly growing Company focused on its core business of Cement & Power.
